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Altona Energy extends current fundraise due to demand

Tue, 13th Oct 2020 09:00

(Sharecast News) - Rare earth elements-focussed mining company Altona Energy has agreed to extend the current fundraise until 11 November, it announced on Tuesday, due to ongoing investor interest.
The AIM-traded firm was looking to raise up to £0.5m at a price of 6.5p per share, and would also issue warrants at 12p , with one warrant being issued for every two Altona shares subscribed for, with an expiration date of 30 March 2023.

It said the capital would be primarily used to start an initial exploration drilling programme on two of the African rare earth projects it was in the process of acquiring.

"These acquisitions will be paid for using Altona ordinary shares, thereby freeing up cash for operational activities," the board said in its statement.

"The funds will also be used to complete final legal due diligence on the acquisitions and for working capital purposes.

"The company is expectant that it will shortly be in position to acquire a third rare earth mining project, also in Africa, in which it is in advanced negotiations with the current owner."

More News

Altona Energy looks to raise £500,000, warns of administration risks

(Sharecast News) - Mining exploration company Altona Energy issued an update on its crowdfunding efforts on the NR Private Market.

30 Oct 20 08:23

Altona upbeat as planned Leadway investment gets exploration licence

(Sharecast News) - Rare earth elements mining exploration company Altona Energy announced on Thursday that Leadway Group has been granted a three-year exploration licence for its tenement 'EL00115', known as the Nankoma Rare Earths Project.

29 Oct 20 16:15

Altona Energy extends current fundraise due to demand

(Sharecast News) - Rare earth elements-focussed mining company Altona Energy has agreed to extend the current fundraise until 11 November, it announced on Tuesday, due to ongoing investor interest.

13 Oct 20 09:00

Altona to raise £0.5m to fund rare earth elements strategy

(Sharecast News) - Mining exploration company Altona Energy said on Thursday that it is looking to raise up to £0.5m to fund its new rare earth element strategy.

24 Sep 20 12:07

Altona making progress with new business strategy

(Sharecast News) - Rare earth elements-focussed mining exploration company Altona Energy updated the market on Friday, saying it was "moving forward on all fronts" with its new business strategy.

4 Sep 20 14:17

Altona makes two 'experienced' rare earth consultant appointments

(Sharecast News) - Africa-focussed rare earth element mining exploration company Altona Energy announced the appointment of two "highly experienced" consultants on Monday, with immediate effect.

13 Jul 20 12:46

Altona agrees to acquire majority stake in Chambe Basin

(Sharecast News) - Mining exploration company Altona Energy announced on Tuesday that, after a period of discussion, it has entered into a memorandum of understanding with mining consultancy firm Akatswiri Mineral Resources, to acquire a majority stake in a rare earth mining project in the Chambe Basin in southern Malawi's Mulanje area.

2 Jun 20 13:31

Altona Energy results delayed as it works on South Australia acquisition

(Sharecast News) - Coal exploration company Altona Energy announced on Tuesday that it was expecting to release its annual accounts for the year ended 30 June "within the next two weeks".

11 Feb 20 09:28

Antona Energy begins negotiations to buy petroleum licence application

(Sharecast News) - Resources company Altona Energy has entered into early stage negotiations with a third party to acquire a petroleum exploration licence application on a large tenement within a well-known coal-bearing basin - the Arckaringa Basin in South Australia, it announced on Thursday

21 Nov 19 16:26

Altona Energy shares delisted from trading on AIM

(Sharecast News) - Exploration company Altona Energy provided investors with a quick update on Friday following the delisting of its shares from trading on AIM.

1 Mar 19 08:35

Altona Energy progresses with South Australian pyrolysis deal

(Sharecast News) - Mining and exploration company Altona Energy has taken its first steps to utilise its recently granted exclusive licence of pyrolysis developer Leinad's technology in Australia and China.

14 Dec 18 08:49

Altona Energy suspends Westfield operations and appoints new chairman

(Sharecast News) - Altona Energy's shares dropped on Thursday after activities were temporarily halted at a project in Australia and the company's chairman was replaced.

29 Nov 18 12:05

Altona Energy Cancels Name Change But Consolidation Still Planned (ALLISS)

LONDON (Alliance News) - Altona Energy PLC on Thursday said it has withdrawn plans to change its name to Sustainable Energy Group PLC.Shares in Altona were down 14% at 0.21 pence on name a

11 Oct 18 16:04

Altona Energy Proposes Share Consolidation And Name Change (ALLISS)

LONDON (Alliance News) - Altona Energy PLC said Tuesday it is proposing to consolidate its shares so that every one thousand existing shares will be consolidated into one, sending its stock price

2 Oct 18 11:12

Altona Energy Appoints Robert Hales As Non-Executive Director

LONDON (Alliance News) - Mining and energy company Altona Energy PLC said Thursday that it has appointed Robert Hales as a non-executive director with immediate effect.Hales currently holds

9 Aug 18 10:08

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